Of Fashion And Quality

The opening of the H&M’s store in Mumbai made quite a flurry on the social media—with long snaking lines of eager customers waiting with bated breath as the first store threw open its doors in Maximum City. The brand's obviously fanatic following is testimony to the brand value H&M has created for itself globally. Janice Goveas-D'Souza gives you an insight in the successful business model H&M has created, for itself.

- Janice Goveas-D'Souza

Hennes & Mauritz AB (H&M) entered India in October, 2015 and currently operates stores in Delhi, Punjab and Bengaluru. In Mumbai the brand inaugurated two stores with much fanfare one at High Street Phoenix and another at Phoenix Market City, Kurla. It also plans on expanding in Pune and Chennai this year. By winter, Chennai will have its first H&M store spanning over 34,500 sq ft at Express Avenue Mall. Pune will see two stores, one at Phoenix Market City (33,000 sq ft) and another Westend Mall (23,000 sq ft).

“H&M is having a great first year in India," said Janne Einola, country manager, H&M. "The fantastic response from our consumers, to adopt international trends in their wardrobes, and a stronger economy have encouraged us to explore new markets in metros and beyond. All our new locations will be full concept stores, offering the latest in women’s, men’s and children’s fashion.”

Globally, H&M had 3,970 stores as of February 29, 2016 and plans to open 425 more by November, The Wall Street Journal reported on April 6, 2016. The company is the world's second-biggest clothing retailer by sales after Zara's parent Inditex SA of Spain.

In an interview to a leading business daily, the country manager also adds, "We entered after the Indian government relaxed norms and allowed 100 per cent FDI in single brand retail. Our business model is working here and we aim to grow further. We have seven stores now and will take it to 12 by the end of the year. We will open the first High Street store in Connaught Place in Delhi soon." 

WHY INDIA FOR H&M?